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Who are we

Inadvance. A young, versatile and dynamic company:

A young, versatile and dynamic company formed by a multidisciplinary and international team that operates the spanish and italian markets, Inadvance guarantees a high standard of quality in terms of: know how, customer listening ability, professionalism and confidentiality. We are specialists in Internationalization, legal-legal services and training. We guarantee our clients a direct control of the projects through our offices and our own staff in Madrid, Milan and Rome.

In addition to all this, we have a high expertise in the agri-food, textile and cosmetic sectors.

What set us apart

We continuously seek the perfect balance between "functionality and emotion" so that these values are complementary and live in harmony among them.

Functionality allows us to be quick in strategic choices, agile in adapting to the needs of our customers and when making decisions.

We are emotional because we consider our presence next to companies essential, becoming part of their work team. To do this we put at your service an international team of professionals who operate in our offices in Italy and Spain.

 

How we work

Inadvance supports companies during the process of strategic change of their business in new markets.

We adapt our methodology depending on the needs of each project and transform the objectives into progressive and measurable actions.

We give our clients an unobstructed vision of the way forward, we motivate people in key positions and we guarantee companies a solid and homogeneous structure to face the challenges they will face.

We are involved in the development of our clients' projects, becoming part of their team, understanding their culture, knowing their systematics and objectives in order to maximize the results. In addition, thanks to our local staff in both markets, we offer this level of commitment in Italy and Spain.

MANAGING TEAM

Isabella

Isabella

Coordinator & Legal

Vanessa

Vanessa

Senior Researcher and Business Developer

Maurizio

Maurizio

Chairman and Chief Legal Officer

Sandro

Sandro

CEO

Daniel

Daniel

Sales Manager

Simone

Simone

Legal Department

Massimiliano

Massimiliano

Food and Beverage Specialist

OUR SERVICES

Internazionalization

Thanks to our network of professionals located in the countries of destination, Inadvance can offer a wide range of specific services to support companies during the difficult process of internationalization.

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Legal Advice

Inadvance has an internal department of international lawyers which allows us to provide legal and legal services to our clients both in Italy and Spain. Some of our lawyers accumulate more than 25 years of experience in the sector.

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Training

Inadvance through its team of professionals offers training courses and workshops for companies, employees, associations and schools adapted to the needs of each sector and business profile.

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Partners


ceoe international

club camara

ccus

NEWS

  • REPORT FOR SPAIN AND ITALY 2018

    REPORT FOR SPAIN AND ITALY 2018

     

    From Inadvance we would like to advance some brief summaries of the economic forecasts of our two markets of action, Spain and Italy.

     

    Spain not only shows a recovery for the business abroad, but also exhibits as an exceptional destination in Europe for foreign investments. Also, the GDP deflator will experience a small increase of 1.2%. In this, it improves three tenths its estimate of GDP growth for 2017, up to 2.8%. According to its forecasts, the GDP of the euro zone will advance 1.8% this year and 1.5% next year.

     

    Read full report

     

    In the same way, although Italy will grow at a lower rate than Spain, the Italian market continues to increase its potential and offer facilities to foreign products. The report includes the favorable economic forecast for 2018 thanks to the expansion and development of upward sectors such as agri-food and textiles.

    Read full report

     

    For more information, do not hesitate to contact our team of consultants at This email address is being protected from spambots. You need JavaScript enabled to view it..

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  • INADVANCE AT IMEX MALAGA 2017

    INADVANCE AT IMEX MALAGA 2017

    INADVANCE - Making your Future attended on the 21st and 22nd of November at the IMEX-Andalusia international fair held in Malaga. During the fair we met the demands of companies and entrepreneurs who requested to meet with our experts in internationalization processes and in the legal-legal aspect

     The Italian market is in a moment of economic and financial splendor, in which the exports they receive form a pillar of sueconomy. Specifically, it is the autonomous community of Andalusia that exports the most products in sectors such as the agri-food sector, which registered an increase in exports of 68% compared to the previous year. In recent years the regional economy has also internationalized other sectors such as aeronautics (second community in export figure, with 1,395 million) and high and medium-high technology products (22.1% of sales abroad).

    In the two days that we were at the fair, our experts advised and oriented companies from various sectors interested in knowing the Italian market and the procedure to access it. Thanks to our experts and their extensive knowledge and experience, we were able to serve companies and entrepreneurs from different sectors such as agri-food, textiles, cosmetics, stationery, furniture, among others.

     

    During the fair, our CEO Sandro Marsiglia had two interventions, a round table called by IMEX entitled "Double your sales in the four countries that concentrate more than 40% of the export in Andalusia" and a small conference at 1:00 p.m. at the Bankinter stand under the title "How business is carried out in Italy, main aspects to take into account and essential legal aspects that the entrepreneur must know".

     

     

    We were also able to attend various interventions such as that of the mayor of Malaga, the chairman of the Junta de Andalucía and the president of IMEX, on products and services to improve the competitiveness of the SME.

     

    The main objective of the fair was to promote the foreign business of Andalusian SMEs and international investment, through personal interviews with commercial representatives from more than 59 markets. The fair is a forum of knowledge in foreign trade of high level, having a full program of conferences and round tables in which internationalization experts have participated.

     

    From Inadvance - Making your future, we are grateful to IMEX Málaga and the entire organization for the management of an event of such magnitude, capable of bringing together experts, companies and entrepreneurs, which continue to demonstrate the high potential that exists in this country, reflecting the quality of the Spain brand.

     

    Attached to this news we want to share with you the presentation of our CEO where concepts and aspects to be taken into account for the Italian market are discussed, as well as a brief report from Andalusia in which the sectors and provinces that export the most to Italy are broken down , along with recommendations made by our experts in the field of internationalization.

    DOWNLOAD REPORT ANDALUCIA PDF

    INADVANCE AT IMEX 

    We are waiting for you at the next IMEX to be held in March in Madrid. For more information, do not hesitate to contact us at This email address is being protected from spambots. You need JavaScript enabled to view it.

    Sincerely

    Inadvance

     

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  • INADVANCE boosts its structure in Spain

    INADVANCE boosts its structure in Spain

     

    Coinciding with the opening of its new Madrid offices located at Manoteras Avenue, 38, INADVANCE has strengthened its team of professionals in Spain with 3 new additions.

     

    Equipo 3

    In this way, the INADVANCE Spain team is configured by the following professionals:

                        

     

          Sandro Marsiglia, INADVANCE CEO. He holds a graduate degree in Economics and a master's degree in internationalization of companies and an Executive course in Business Management. Professional with 15 years of experience specialized in processes of internationalization of companies between Spain and Italy.

     

     

    Daniel Gabalda, Sales Manager. He holds a degree in Business Management and Marketing. Professional with more than 14 years of experience in the commercial field & marketing at international level having developed business in diverse markets and continents.


     

     

             

     Pierluigi Passaseo, Senior Consultant. Degree in Business Administration and Management and Master in International Business Administration. Professional with 3 years of experience in internationalization of companies having developed projects in Australia, Italy and Spain. 

     

     

    Javier Abad, Junior Consultant since October 2017. Student of Degree in Administration and Management of Companies with Marketing and Commercial Management.

     

    In short, we are designing a young and well-prepared team that accumulates experience in the international business, business generation, marketing ... In addition, our profiles complement our team from Italy (Milan and Rome), which also has specific expertise in these areas or others as specific such as international commercial law to provide comprehensive advice to our customers and employees.

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  • Inadvance and Premium Net sign a collaboration agreement

    Inadvance and Premium Net sign a collaboration agreement

     

    Premium Net (http://www.premiumnet.it/), an Integrated Logistics and Industrial Logistics operator with a track record of more than 35 years and a turnover of more than 120 million euros, is able to provide a wide range of services to meet the demands of customers.

    Its services are focused on offering global solutions, with independent management of the tasks entrusted and with full control of the facilities that it operates. It has specialized resources to support or cover all levels of management offering in this way.

    Inadvance, through its local staff in Italy and Spain, will be in charge of helping to develop the implementation project in Spain. With this new alliance, Inadvance and Premium Net intend to develop business in one of the sectors with the most impact in Spain. It is also estimated that 7% of the costs of the companies are derived from the logistics and therefore, it is a service essential for the Spanish business fabric.

    The situation in Spain

    The logistics sector in Spain picks up excellent data this year where 87.5% of companies in the logistics sector, almost 9 out of 10, will increase their turnover by the end of this 2017 compared to 2016.

    Specifically, the total revenues of the logistics sector in 2016, quantifying only operations with goods and storage derivatives, reached up to 4,000 million euros. Compared to the previous year, 3.9% more (3.85 billion euros in 2015). These data are taken from the study 'Sectors Logistic Operators', from the BBK Sector Observatory of Informa D & B.

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  • Opportunity, food industry.

    Opportunity, food industry.

    For the first time, we are bringing to Spain the manufacturer of Bresaola of excellent quality Gianoncelli. With a variety of more than 30 different references, with veal, horse and pork meats, our client intends to start developing the Spanish market.

    It also has great flexibility to manufacture white brands and formats for the retail channel. We are completing a trade agenda in Spain for the week of October 16th. If there is any company interested in meeting with our manufacturer, please do not hesitate to contact us via email at This email address is being protected from spambots. You need JavaScript enabled to view it. or at 697 189 047. Thank you very much.

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  •  Business breakfast in the Commerce Chamber.

    Business breakfast in the Commerce Chamber.

    On Wednesday July 5 the Chamber of Commerce of Madrid has been attended by the economist Manuel Pizarro.Inadvance, as a member of the Chamber, has participate in the Pizarro's conference, where he has explained what will be the challenges that the Spanish economy will face in the coming years.

    The economist has emphasized the importance that it has for the companies that do export operations, to have a clear equilibrium of the markets in a globalized context.For Inavance it has been a privilege to attend such an interesting symposium, full of ideas and strategic reflections for the future of the Spanish economy.

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  • Call for proposal of Lombardia Region: “Smart Living”

    Call for proposal of Lombardia Region: “Smart Living”

    The "Smart Living" call for proposal promoted by Lombardia Region seeks to stimulate the business combination, on the "Smart living" topic, in order to integrate the productions, services and technology attributable to the field of Constructions, Wooden-furniture, Electrical and High-tech devices in partnership with Universities, aimed to the introduction of products, new or improved processes / services from technological, productive and organizational point of view, in order to enhance the smart living themes.
    The Lombardia Region’s goal is to strengthen and promote the excellent industries in Lombardia, combining the traditional manufacturing know-how with the most advanced technologies, having positive consequences in terms of:

     

    •    Ecological impact in each single phase of the life-cycle of products: production, management, recycling;
    •    Energy-functional value of new recycled and recyclable materials, in order to create and produce eco-friendly objects /design furnitures for home furnishings (eco-design);
    •    Smart Supply Chain of processes / models of business and manufacturing, with an export viewpoint;
    •    Energetic and seismic screening of buildings solutions;
    •    Elaboration and implementation of innovative models of intervention on existing buildings: seismic assessment, urban renewal, energetic and/or structural requalification;
    •    Domotics, also aimed to facilitate the autonomy and accessibility supporting individual services,  wi-fi net and advanced sensor systems (IoT);
    •    Virtual planning systems, in particular regarding Building Information Modelling, of advanced prototyping and home & building automation;
    •    Big data analysis, “Cognitive systems” artificial intelligence techniques and technologies regarding the Cloud Computing, to support in real time the intelligent data and information management;
    •    Management intelligent systems, the monitoring and security of the household systems, especially electrical white / brown devices.

    Budget

    The call for proposal has an overall budget of € 15.000.000,00 and provides for a financial support in the form of straight grants.

    Who can apply

    The Partership must be composed by a minimum of three subjects, of which at least two SMEs and one subject selected from Universities and Big enterprises. The composition of the Partership must meet the following requirements:
    a) the participanting SMEs in the Partership must cover cumulatively at least 60% of the admissible total expenditures of the S&I Project;
    b) each Partner must cover at least 10% of the admissible total expenditures of the S&I Project.

    Financial aid

    The financial aid provided from the call for proposal is granted in the form of a straight grant, and for each single Project it cannot exceed € 800.000,00 and be lower than € 200.000,00.

    Procedure for granting

    The granting is divided in two tranches:
    1) first tranche, up to the 40% of the financial aid by way of anticipation subject to acquisition, for Partner enterprises and private Universities, of the fidejussory guarantee for an amount equal requested anticipation (public Universities are not obligated to show a fidejussory guarantee), or following the actual fulfillment of the 40% of the eligible expenditures, after proving the cost-reporting of the covered expenditures and receipts of the same amount.
    2) balance tranche, at the end of the Project, after showing the final report on the Project’s result, equipped by the final cost-reporting in self-certification of the actual covered expenditures and receipts as requested by the call for proposal.

    Eligible expenditures

    The finantial aids are granted for:
    - Activities of experimental Development and Innovation of processes and organization in accordance with art. 25 clause 5 and 6 and art. 29 of n. 651/2014 EU Regulation;
    - Activities of product Innovation: n. 1407/2013 EU Regulation establishes that the overall amount of  de minimis aids granted by a member State to a single enterprise cannot exceed € 200.000 within three financial years and € 100.000 for the field of transporating goods for third parties, in the last three-year period (art. 3.2).

    Procedure and deadline for submitting applications
    Application must be submitted exclusively through the online SiAge System starting from 12.00 p.m. of February 1st 2017.

    INADVANCE CAN HELP YOU!

    Inadvance supports all the enterprises willing to seize this opportunity helping them initially by leading them through the whole financing application process and then once the project is approved managing the application and the financial reporting.

    For more info do not hesitate to contact us at the following email address: This email address is being protected from spambots. You need JavaScript enabled to view it.

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  • The Optical Industry in Spain

    The Optical Industry in Spain

    The optical industry in Spain is exploding: in 2015 it has been produced an increase of almost 5% compared to the previous year. The rising "online" firms and "low cost" brands have turned into the latest threat for the traditional optics shops.

    When we go to an optics shop the brands among which we can choose seem endless. But behind it there are only few giants managing the main licenses in the fashion world: the Italian Luxottica, Safilo, De Rigo and Marcolin, the American Marchon and, in Spain, Optim. Glasses are a rising commerce in our country: in 2015, only the eyesigh correction products have been make an increase of 4,7% with a turnover of € 1.600 million. These data don't surprise because glasses almost turned into a commodity because they protect from the UVA rays  and because more than 25 million of Spanish need corrective eyesight products. However, the Spanish Federation of the Optics Associations, FEDAO, remembers that from 2008, due to the crisis, a decrease of 25% occurred in the attendance to the optometrist appointments.

     

    This passed year has been positive too, even though not as much intense. The 2016 first quarter financial results have confirmed this trend. Luxottica, has increased for example its sales of 2,5% reaching € 2.260 million, whereas the Spanish consultancy company DBK have esteemed an increase in the commerce of 4,1% in 2016 compared to the previous year, reaching a turnover of € 2.365 million.

    Even though FEDAO believes that the margin of benefit will be reduced because of the increase of the labour costs and the higher weight of the low cost invoicing in the sector, since the frames market is now fragmented because of the birth of small enterprises and startup offering customized products with a brand style well diversified and with accessible prices. Among these new actors we find Hawkers, an unstoppable phenomenon that, after having beaten records of sales on Amazon, it is considered the “Zara” of glasses. Its strategy has not passed unnoticed to Inditex that has bound it to Pull&Bear to sell its models into the shops and online. This proliferation of new brands subtracts importance to the impact of the piracy that is more damaging for the big groups. According to a recent report of the European Union Intellectual Property Office (EUIPO), and the Organisation for Economic Co-operation and Development (OCSE), counterfeiting and piracy move every year €338 million. In Spain, only in 2015, the Tributary Agency has intervened for almost 2,6 million counterfeit products whose value esteemed in the market would have reached  €130 million. Glasses are the protagonists among confiscations: 395.000 falsifications have been removed out of the market (59 million).
    If for the manufacturers of glasses the big threat is the piracy, for the national optic sector the big worry comes from the online saling, where the emergent brands such as the Spanish Lord Wilmore which has started its rise only in January 2013 and in just one year has almost quadrupled its sales, are earning more space. In 2015 Lord Wilmore has reached a turnover of € 300.000.

    The different enterprises which are selling graded lenses emerged on Internet are clashing with the professionals of the sector, but legal tools have different ways to be avoided. In opticadirecta.es, specialized in opticians products directed to final consumer, they specify that they do not offer optic services: "we don't graduate lenses neither we give optic advices neither we prescribe glasses. This competes to an optician or a specialized oculist", and that their services are suitable for ordering a spare pair of glasses. From their side, the traditional opticians remember that a glasses prescription implicates some elements that are on medical prescriptions such as the distance to the vertex, the facial and pantoscopic angle that the frame has compared to the morphology of the face of the user. Inés Mateu, chairwoman of FEDAO, says that "market techniques focused only to the low cost shall not be used, without not thinking of quality or safety of the product. In our sector, above the turnover or the sales, firstly there is health."

    Among the most consolidated tendencies in the field there is the product endowment of connotations of social or environmental responsibility, for both the implementation of donation programs of glasses to disadvantage communities, and for the use of sustainable materials (natural or recycled) for wrapping the frames. For not to mention the 3D printer which finds one of its most commercial applications in the production of customized frames that then has given rise to a multitude of startup, as the Australian Sneaking Duck or the Italian Soda Concept. A tendency that the most avant-gardists brands have adapted as the German Mykita which has already launched its first collection for 3-D printers, called Mylon. In Spain we find the example of Wlasses which creates glasses with recycled material - nylon dust - for 3D printers, and is the result of the idea of two entrepreneurs that with a capital of €10.000  have created four designs for the selling.

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  • The Footwear Industry in Spain

    The Footwear Industry in Spain

    Now a day, the Spanish footwear sector constitutes a very dynamic and variegated industry, in which different models and entrepreneurial strategies coexist. The footwear industry has experimented an important transformation in the last years that allowed it to considerably improve its level of competitiveness and therefore increasing its presence on global markets, not only for the price, but also for design and quality. Currently the Spanish footwear industry is characterized by:

     

    Fragmented entrepreneurial structure. In this field there are few big and medium sized enterprises, while there are plenties of small ones (with less than 50 employees) and micro (with less than 10 employees).

    Complex business. The footwear is a complex and articulated sector characterized for having a fragmented productive chain.

    Industry depending on final consumption. For its nature, the footwear industry is very sensitive to the economic situation and to the ups and downs of the final demand. In the last years, the footwear sector, as in general the one of the manufacturing indistries (in particular the fashion world) have been affected by the general trade and consumption crisis.

    Industry oriented to the export. During 2009, the exports of the sector amounted to 100,3 million pairs of footwears contributing partly to attenuate the damage produced by the fall of the internal demand. Despite the difficulties of the global economy, the Spanish footwear industry has not lost competitiveness and has been stable on the international  markets.

    Repositioning on foreign markets. Currently, France and Italy are the principal buyers of Spanish footwears; while the sales in the United States have fall down both in consumption and value. Although now the sales to the European market represent almost the 80% of the overall, the industry continues to aim to markets diversification and is trying to enter, slowly but with success, the Chinese market of high value products.

    Strongly international competition. The global economic context of the industry is more and more competitive because of new competitors that proposing  very low prices. To face these challenges, the Spanish enterprises have improved their competitiveness thanks to brand oriented strategies, quality, fashion, design, and innovation.

    Coexistence of different business models. The necessary adaptation of the industry to a new scenario imposed by the globalization has pushed the enterprises to explore new business models. The inter-entrepreneurial cooperation and the geo-localisation have been the strategies which had more influence on the diversification of the entrepreneurial models.

    Strong technological development. The footwear is an industry in continuous technological development. And this in underlined by the innovations adopted for the chasing of market trends, the use of new materials, the optimization of logistics and distribution systems, the realization of projects in collaboration with industries and connected activities, as also the incorporation of design and manufacturing advanced technologies assisted by computers.

    • Environmental responsibility. Now a day, the footwear is a sufficiently awared industry about environmental topics and is respecting them also thanks  to the legislation regulating it.

    In conclusion, the Spanish footwear industry is realizing important efforts in order to improve its levels of competitiveness, look at the client, open new markets and positioning itself in the high added value products.

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  • For the Spanish start-ups the first successes come from technologies

    For the Spanish start-ups the first successes come from technologies

    The Spanish technological entrepreneurs are struggling to fill the gap created among those who are generating ideas and those who  just copy and adapt them to new markets. A new generation of Spanish founders is working for turning innovative ideas into valuable firms from a commercial point of view, often in partnership with technological institutes, universities and potential clients. While a lot of start-ups are still aiming to the clients or the firms, others are working in between the public and private sectors, and often are trying "to do well doing good."

    Made of Genes is an example of it: situated in Barcellona, seeks to develop a valuable business model that places available to all the sequencing of the Dna or genoma, and allows the single individual to have control of how his personal data are being used. Oscar Flores, co-founder and executive manager, says that the technology of the Dna sequencing is already experimented and it has great potentialities related to the improving of human health. However, it is certainly an expensive technique that implicates a single expense of almost one thousand Euro, unless sharing its costs by among the potential beneficiaries. "Our challenge is to identify a business model that works" he explained.

     

    Across town, DEA Drones reports the great interest expressed by the emergency services of different European countries. Its small team draw up a panel on screen conceived for helping the fire department to analyze in real time the information on the scene [of a fire] so that they can intervene more efficiently. The original idea was to use the drones to deliver where needed the defibrillators, said Alfonso Zamarro, founder and executive manager. However, talking about it with the authorities appointed to the first responders, Zamarro and his team indentified a different problem to which they thought they could give a concrete answer. "They had working cameras installed on the firefighters and drones, but they had some struggles to put together all the information and make a clear picture of the general situation" ha says.

    The appearance of firms more oriented to the social aspect is one of the indexes of the growing variety and fullness  of the start-ups scenario in Spain. Another one is the increased interest of the international buyers to take over the Spanish start-ups that have achieved enviable market share, included also some of the ones that have obtained big areas in Latin America. In August eBay, the American firm of online auctions sale, took over Ticketbis, an online market sale of tickets for any kind of events and they say it costed 165 million dollars. Founded in 2009, with its headquarters in Bilbao and Madrid, Ticketbis has enlarged on the market in 48 countries of southern Europe, Latin America and Asia. From now on eBay it will combine the activity of Ticketbis with the one of StubHub, its trading center of tickets located in the United States, expanding consequently its share as a market leader in the Usa for the tickets sailing. The success of Ticketbis once more proves that the Spanish start-ups scenario is showing its positive results in an extraordinary variety of geographical contexts. Unlike the United Kingdom, France and even Germany, where the capital cities control the entrepreneurial activities and the investments flows, Spain has two poles - Madrid and Barcellona - around which the start-ups gravitate and crawl, attracting the international attention and animating the entrepreneurial contexts in some of its areas.

    The data of ASCRI, the Spanish association of venture capital and private equity, show that the combined value of the Madrid members investment portfolio, with its € 7,2 million, it is almost the double of the value of their investments in Barcellona, equal to 3,8 million. But the association members have also the economic support of a meaningful number of firms of the Basque region, Valenza, Galizia and Andalusia. "Barcellona is very attractive and the environment is favourably disposed to work well. However I would say that it also goes for Madrid" says Javier Ulecia, president of ASCRI and founder partner of Bullnet Capital, a Spanish venture capital company.
    Since when in 2008 the financial crisis exploded, the entrepreneurs, theinvestors and the Spanish public administrators are working very hard to create a start-up culture that instill new energies to the Spanish economy, Ulecia says. Now we are beginning to see the results of their efforts: "The last year has been the best in terms of investments volume in Spanish start-ups and number of firms which have received money from venture capital" he added. Various factors contributed to this excellent result: with the unemployment that continues to be high, about the 18,9%, the leading firms – in financial, telecommunications and constructions fields - have not been able to absorb the mass of graduates and consequently they had  to explore new options.

    "In Spain it is very difficult for the engineers with a scientific background to find an interesting employment, so  or they go abroad or they join young firms" Ulecia explains. According to Mathieu Carenzo, general partner of Black Ventures, a fund of venture capital located in Barcellona, while the flight paths for London and Berlin are much more popular among talented Spanish young people, their own nation is becoming a competitive place where launching a technological start-up. "In Barcellona you can find very talented developers for 20-30 thousands Euro a year, almost half of the ammount asked in Paris, a third of what is asked in London and a quarter of the one needed in the Silicon Valley" Carenzo explains, who holds conferences at the Iese Business School. "In the past we were used to projects which involved only the Spanish market" he adds, "while now the work in progress projects that we see are more ambitious and expected to greater results. This is what makes more attractive Spain for the talented people coming from all over Europe."

    Such ambitions are financially sustained by a supporting net more and more well-developed and which today includes start-up incubators, specialized lawyers and business advisors with great experience. The financings nets include instead public capitals, venture capital and informal investors. The improvements are numerous and evident. Despite this, Flores from Made of Genes underlines that the financing systems are still conforming to the needs of the long period financing of high-risk initiatives which occur in development and marketing processes of advanced and revolutionary technologies, such as for example in the medical field. This is the frontier where increasingly the transformative technologies are developed. Spain has pockets of scientific and technological leadership, but in order to turn the ideas into firms that can compete at a world level it will be necessary  a considerable effort: it is still a hard road.

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